Dar reviews austerity measures, calls for PNSC restructuring with global consultants

Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday reviewed the implementation of austerity measures across government departments and separately discussed the proposed restructuring of the Pakistan National Shipping Corporation (PNSC), according to statements issued by the Foreign Office (FO).

Dar chaired a meeting of the Committee for Monitoring and Implementation of Conservation and Additional Austerity Measures at the Ministry of Foreign Affairs, where participants reviewed progress on earlier decisions, focusing on expenditure management and resource conservation across ministries and divisions.

The foreign minister emphasised that “sustained follow-through and close coordination were essential to achieving the objectives of the government’s austerity drive”.

He called for continued efforts to “reduce avoidable expenditure and improve administrative efficiency”, while underscoring the shared responsibility of all relevant institutions in translating the measures into lasting savings.

The meeting was attended by the minister for information technology and telecommunication, Special Assistant to the Prime Minister Tariq Bajwa, and the secretaries of the Cabinet, Law and Justice, Information and Broadcasting, and Federal Education and Professional Training.

Senior representatives from all provinces, Azad Jammu and Kashmir and Gilgit-Baltistan, as well as officials from relevant ministries, also attended.

In a separate meeting, Dar reviewed proposals for restructuring the PNSC, with participants discussing plans to transform the corporation into a “competitive, commercially viable and globally recognised maritime entity”.

The FO said participants also reviewed proposals to “enhance operational efficiency and align corporate governance with international best practices”.

Dar stressed that the restructuring process must be “anchored in professionalism and aligned with global standards”. He directed the relevant authorities to engage “world-class shipping and financial consultants” to develop a forward-looking roadmap.

The roadmap, he said, should aim to “maximise commercial returns, strengthen Pakistan’s maritime trade logistics and safeguard our national economic interests”.

The meeting was attended by the federal minister for maritime affairs, the maritime affairs secretary and senior officials from relevant ministries and departments, along with Tariq Bajwa.